Naftogaz of Ukraine has transferred $1.45 billion to Gazprom following the trilateral agreement signed between Ukraine, Russia and the European Commission last week in Brussels. The transfer relates to 11.5 billion cubic meters of gas supplied in November to December 2013 and April to June 2014, priced at $268.5 per thousand cubic meters, for which Naftogaz will pay a total of $3.1 billion.
The Arbitration Institute of the Stockholm Chamber of Commerce will make a decision on debt settlement between the parties for the period since 2010. The Brussels protocol does not prejudice these Arbitration Institute proceedings.
Naftogaz has all necessary funds in place.